Profit rates

How much the bank charges you based on your financing amount & financing period

Financing Value

Financing Period

Your Income

Profit Rate

RM10000 - RM150000

24 to 96 months

min. RM60000

6.99% p.a.

Fees & Charges

There are always fees but how much are they?

Profit Rate / APR

As low as 6.99% p.a., depending on financing amount and period

Processing Fee

None

Stamp Duty

0.5% of the whole amount

Requirements

Are you eligible for this personal financing?

Minimum annual income

RM60000

Minimum age

25 years old

Maximum age

60 years old

Who can Apply

Malaysians

Frequently Asked Questions about Al Rajhi Personal Financing-i

Things you might want to know

Can I take up Al Rajhi Bank Personal Financing-i for debt consolidation?

Yes, you can. Al Rajhi Bank allows for anyone who is eligible to apply for this Personal Financing-i for the purpose of debt consolidation under the Balance Transfer option. Pay off your credit cards outstanding debts or personal loans with other financial institutions at attractive low profit rate.

Besides that, you can also sign up for Al Rajhi Bank personal financing for various personal reasons such as purchasing asset for investment, placing a down payment for your new vehicle or home or meeting your child's education needs among others.

How much money can I borrow?

If you're looking to secure a higher financing limit, this personal financing offers you to borrow up to RM150,000, or 5x
your monthly salary, whichever is lower. That is considerably higher than most products in the market in addition to the choice of repayment terms between 2 to 8 years.

To top it off, you can get a low and flat profit rate for the whole period of borrowing, despite without any guarantor or required security, subject to Al Rajhi Bank's approval nonetheless.

How fast can I get my money?

First, you will be required to open either a Current Account or Savings Account with Al Rajhi Bank. The financing application is usually processed within 24 hours, after which you will get to access your money via your account with Al Rajhi Bank.

Are there fees and charges for Al Rajhi
Bank personal financing?

To make it less costly and more convenient for you to get your hand on this personal financing, Al Rajhi Bank does not charge all those sticky fees including processing, late payment and early termination fees.

You are only required to pay for the government Stamp Duty of 0.50%, which is deductible from the total borrowed amount, Takaful fee (subject to the financing amount, tenure and age) and Bursa Transaction Fee (under Commodity Murabahah contract).

What is my obligation for this personal financing and what happens should I fail?

You only have one job, which is to make a regular monthly instalment payment on or before its due date until the end of this personal financing tenure. If you wish to settle Al Rajhi Bank Personal Financing-i before maturity, you can do so at any time and will be granted with a rebate.

However, if you're consistently late on your repayment, consequence is you will leave a bad impression on your credit rating, making it more difficult for you to secure credit lines from any financial institutions in the future.

Who can apply for this personal financing from Al Rajhi Bank?

Any Malaysian individuals aged 25 years and above with a minimum monthly income of RM5,000 can apply for this unsecured personal financing. You will be asked to provide
supporting documents such as:

Salaried
Employee

Copy of MyKad (front and
back).

Latest 3-months salary slip with Reference Letter from your Employer.

Latest 3-months bank account statement.

Self-Employed

Copy of MyKad (front and back).

Business Registration
Certificate (must be at least two years old) and Articles of Association.

Depending on your credit history with other financial institutions because all these information (outstanding credit card, personal loan, home loan or car loan debts) will be captured in CCRIS / CTOS (a system that collect credit information on borrowers, not blacklisting them).

Assuming you have poor credit standing due to irregular payments, the best course of action would be to break the habit and start making your payments on time to avoid future hurdles.

Al Rajhi Bank is more likely to approve your personal loan application if you can show that you are managing your personal finances, rather than accumulating more debt.

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